06.02.18 Orrisa(OPSC) Current Affairs

Odisha is going to have an increase of around 17 per cent in the net proceeds of taxes and duties as devolution from the Centre in 2018-19. The State would receive Rs 36,585.93 crore in 2018-19 vis-a-vis Rs 31,272 crore in 2017-18. Besides, in the Centrally-supported schemes, the State would see an increased inflow from the Centre in 2018-19.

As per the Budget 2018-19 tabled by Finance Minister Arun Jaitley in Parliament on Thursday, in line with the Finance Commission guidelines, Odisha would witness enhancement of the Central revenue flow. The State would be getting an additional Rs 5,314 crore though around Rs 916 crore from the amount is on account of differences in the actual 2016-17 Revised Estimates (RE) that are made adjustable in the 2018-19 Budget. The actual devolution, therefore, out of taxes shared in 2018-19, is at around Rs 35,670 crore.

It seems the GST brings a windfall in Central revenue flow to Odisha as the State would see a 173-per cent rise in the proceeds devolved. The amount Odisha received under the head Central GST in 2017-18 had been a mere Rs 4,310 crore vis-a-vis the projected amount of Rs 11,774 crore in 2018-19. However, what is notable is that the State’s proceeds devolved under the head IGST (Integrated-GST), the proceeds in 2018-19 would see a nosedive by about 68 per cent to a mere around Rs 975 crore. It needs reminding here that the IGST is the tax levied by the Centre on inter-State trade.

Odisha is also expected to get increased fund under some Central schemes like Green Revolution, White Revolution and Blue Revolution as the respective allocations have this time been hiked by 24 per cent, 36 per cent and 113 per cent, respectively. Similarly, the Pradhan Mantri Krishi Sinchai Yojana too has been hiked to over 27 per cent; and as the irrigation outreach has been poor in Odisha owing fund paucity, the State could reap a benefit of it provided it clears sooner more such irrigation projects.

The biggest benefit to Odisha has been the decision of providing MSP of Kharif produces, including paddy, to farmers by around 1.5 times the actual production cost. Reason: Data show the State’s farmers have incurred the second highest loss in the country on paddy cultivation as farmers here have realised a negative net return to the tune of a whopping 16 per cent over their actual cumulative spending on paddy cultivation per hectare last year.

INTERNATIONAL

Maldives declares state of emergency

Maldivian President Abdulla Yameen has declared a 15-day state of Emergency, his aide Azima Shukoor announced on state television.

The move gives sweeping powers to security forces to arrest and detain suspects as Yameen refuses to comply with a Supreme Court order to release political prisoners.

The latest crisis was triggered when the Maldivian Supreme Court ordered the release of some opposition leaders, including former president Mohammed Nasheed, after overturning their “terrorism” convictions.

Dubai named the world’s busiest International Airport

Dubai International Airport says it has held on to its No 1 ranking as the world’s busiest airport for ‘international travel’, after seeing some 88.2 million passengers in 2017.

Dubai International Airport first surpassed London Heathrow as the world’s busiest airport for international traffic in 2014.

It has maintained the title ever since, with some 90 airlines flying into skyscraper-studded Dubai.

· India contributes $1 million to UN Development Partnership Fund

The contribution aims to intensify its partnerships with other developing countries in the south.

India has pledged a multi-year contribution of $100 million to the fund establishment in June 2017.

The fund was set up on 9 June 2017 on occasion of the World Oceans Day as a partnership between India and United Nations Office for South-South Cooperation.

· International company Singtel to invest 2649 crores in Bharati Telecom

Singapore Telecommunications (Singtel) spend up to 2643 crores on shares in India’s Bharti Telecom, lifting its stake slightly in the holding company for Bharti Airtel to just under half.

India’s telecommunications sector has been hit hard by a price war since the entry of carrier Reliance Jio, the telecoms arm of Reliance Industries Ltd, more than a year ago.

The purchase worth as much as 26.5 billion rupees could increase Singtel’s stake in Bharti Telecom by up to 1.7 percentage points to 48.9 percent and its holding in Bharti Airtel, the country’s biggest mobile carrier, by up to 0.9 percentage points to 39.5 percent.

The deal will be done via a preferential share allotment.

Maharashtra govt approves new wildlife sanctuary at Ghodazari

The Maharashtra government has approved Ghodazari in Chandrapur district as a new wildlife sanctuary in the state.

The decision was taken at the 13th meeting of the Maharashtra State Board for Wildlife, chaired by Chief Minister Devendra Fadnavis.

The sanctuary, in the North East of Tadoba, will include 159 sq km of Brahmapuri forest.